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Technology > Marketing Technology

LPL Rolls Out AdvisoryWorld Proposal Tool

By Janet Levaux

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Less than two months after buying the tech firm AdvisoryWorld for $28 million, LPL Financial says it is giving its 16,000-plus advisors access to a proposal generation tool on its ClientWorks platform.

“We see this as a blowout, not just a touchdown,” said Burt White, head of Investor and Investment Solutions, in an interview Thursday (just three days ahead of the Super Bowl).

“It’s really exciting in terms of what it means for advisors’ workflow. This is all about what we are generating in terms of next steps for advisors …., and we will connect the dots more next week,” White explained.

The independent broker-dealer measures the success of its technology projects and upgrades through “pace and progress,” he adds.

“We’ve been sprinting to deliver this in under 60 days,” White said. “This proposal-generation system, which upgrades our advisors’ capabilities …. is light years ahead of [earlier technology] and puts us in an industry leadership position.”

And the IBD executive says the firm and its related tech developments are only in the early quarter of play.

“This is the first phase of integration,” he explained, in terms of mixing client data, financial planning information, portfolios and prospect planning into one integrated workflow. “That’s what makes this so important for advisors — having an easy, efficient streamlined process.”

The AdvisoryWorld technology is connected to Redtail’s CRM and will work with other CRM systems in the future. “Plus, we are continuing to integrate it into ClientWorks, as well, and into all of what advisors do. This way, they can get reports to prospects and clients in a quick and efficient manner.”

Speaking of which, how does White feel about stellar quarterback Tom Brady of the New England Patriots?

Despite the fact that the LPL exec has lived in Boston, “I am not a rabid Patriots fan,” he admitted.

(LPL Financial will release its earnings for the fourth quarter of 2018 after the markets close Thursday.)

— Check out Ex-Vikings Quarterback Fran Tarkenton: How Advisors Can Prevent Elder Fraud on ThinkAdvisor.

Janet Levaux

@Think_JanetL

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